Location: Kingston, NY | Metro: Kingston, NY MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,180 |
| 1 Bedroom | $1,290 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,050 |
| 4 Bedrooms | $2,220 |
| 5 Bedrooms | $2,575 |
| 6 Bedrooms | $2,884 |
| 7 Bedrooms | $3,115 |
| 8 Bedrooms | $3,271 |
U.S. Census Bureau data (2024)
1580 is the Fair Market Rent (FMR) for ZIP code 12453 for fiscal year 2024, indicating the maximum amount that a voucher holder can be charged for rent and utilities combined. 419761 represents the median home value in the area, suggesting that properties are generally expensive compared to national averages. 0.0 is the percentage of residents who are renters, a figure that highlights the predominantly owner-occupied housing market. Despite the lack of specific data on market rent, median income, days on market (DOM), and the percentage of homes that have had their prices cut, the low renter share underscores a significant challenge for landlords and small-portfolio investors. The absence of substantial rental demand implies that relying solely on traditional rental income may not be as profitable as in areas with higher renter shares. However, the high median home value suggests that there could be opportunities for landlords to leverage the local real estate market through alternative investment strategies, such as offering short-term rentals or converting properties into co-living spaces. 1580 is also the ceiling for Section 8 voucher holders, meaning that any property priced above this amount would not be covered by the program, potentially limiting the pool of tenants. Given the context, it's clear that the Section 8 program has minimal impact on the rental market in ZIP 12453 due to the low renter population. This makes it less attractive for landlords looking to participate in the Section 8 program. For small-portfolio investors, the focus should be on identifying niche markets within the area that can capitalize on the strong home values without depending heavily on government-assisted housing. In conclusion, the verdict for Section 8 in ZIP 12453 is that it offers limited opportunities due to the extremely low renter share.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.